Baseten, the AI inference infrastructure startup, is closing a $1.5 billion funding round that would value the company at up to $13 billion. That is a staggering jump from its $5 billion valuation just six months ago.
The round is co-led by Altimeter Capital, Conviction, Spark Capital, Sands Capital, and Wellington Management. It is structured in two tiers, with proposed valuations at $11 billion and $13 billion, giving later participants a higher entry price for the privilege of getting in at all.
From $200M to $600M in revenue, fast
Baseten’s annualized revenue run-rate has surged from roughly $200 million to $600 million. Baseten builds software and multi-cloud compute infrastructure that helps companies optimize and customize open-source AI models, handling the inference workloads — the computationally expensive process of actually getting a trained model to produce useful outputs.
The company counts Cursor, Mercor, and OpenEvidence among its key customers. At least one Baseten customer has reported achieving up to 30% reduction in costs compared to closed-source alternatives.
